I had a 30yr fixed mortgage which I obtained in Jan 2006. I have been filling out Form 4562 since then. In 2012, there was a MACRS deduction of $16000 (line 17), and a 5yr property (line 19b) basis $1000, convention HY, method 200DB, with a depretiation deduction of $320. The Amortization was $1760 amount, Code section SL, 30yr, $59 this year (line 42).
I recently refinanced this property (June 2013) to another 30yr fixed mortgage. When filing my personal income tax, how does Form 4562 (and other forms) change with this refinance? I am a novice, so the more information you can provide, the better. Thank you in advance.
I recently refinanced this property (June 2013) to another 30yr fixed mortgage. When filing my personal income tax, how does Form 4562 (and other forms) change with this refinance? I am a novice, so the more information you can provide, the better. Thank you in advance.